Equities Market Extends Gains, Up 0.91% | Independent Newspapers Limited
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Equities Market Extends Gains, Up 0.91%

Posted: Jul 22, 2015 at 12:23 am   /   by   /   comments (0)

By Bamidele Ogunwusi and Gloria Ishaleku, Lagos


The bulls sustained their hold on trading activities on the floor of The Nigeria Stock Exchange (NSE) on Tuesday as the equities market extended the gains recorded in the previous session when bargain hunting in blue chip stocks buoyed the market pushing it 0.91 per cent higher.

The All Share Index added 284.4 basis points or 0.91 percent to close trading at 31,332.39 as against 31,047.99 recorded on Thursday even as Market capitalisation appreciated by N97.351 billion to close at 10.725 trillion compared with Thursday’s N10.627 trillion.

Activities in the shares of Zenith Bank was Investors of The Nigeria Stock Exchange (NSE) on Monday swopped on the shares of Zenith Bank buying a total of 729.100 million shares, valued at N13.014 billion in 263 deals.

Appreciation in counters like Oando; 10.2 per cent, Access Bank;  3.8 per cent, Nestle Nigeria ; 2.0 per cent, FBN Holdings; 2.0 per cent, Dangote Cement; 1.5 per cent, Forte Oil; 1.0 per cent, Zenith Bank;  0.7 per cent, among others, largely contributed to the positive trading seen on Tuesday.

At the end of trading on Tuesday, a total of 1.056 billion shares valued at N15.780 billion changed hands in 3,471 deals as against 222.209 million shares valued at N2.838 billion which changed hands in 3,694 deals on Thursday with the financial services sector recording 969.207 million shares worth N15.070 billion in 1,966 deals compared with 159.494 million shares valued at N1.106 billion in 2,084 deals recorded on Thursday.

In the banking sub-sector, investors bought and sold a total of 901.997 million shares valued at N14.861 million in 1,284 transactions as against 92.557 million shares valued at N862.481 billion in 1,312 transactions recorded at the previous trading day.

Nestle Nigeria led  the gainers’ tale when it appreciated by N16.93, followed by Mobil Nigeria which gained 500 kobo, Total Nigeria added 405 kobo, Dangote Cement grabbed 246 kobo, while 7UP Bottling Company nicked 215 kobo, among others.

Guaranty Trust Bank led 20 others on the decliners’ table when it went down by 50 kobo, followed by Berger Paint which depreciated by 49 kobo, Cement Company of Northern Nigeria lost 47 kobo, Stanbic IBTC shed 30 kobo, while the share price of Guinness Nigeria went down by 20 kobo, among others.